Investing.com -- President Donald Trump assured that the United States will continue to supply liquefied natural gas (LNG) to Europe, despite concerns that the growing export industry could increase domestic gas prices. The commitment was made during the World Economic Forum in Davos, Switzerland on Thursday.
The CEO of TotalEnergies (EPA:TTEF), Patrick Pouyanne, queried Trump on his plans should the anticipated growth in U.S. LNG projects result in a surge in domestic gas prices. Pouyanne also sought assurance on the security of LNG supplies to Europe, as the continent is working to decrease its reliance on Russian gas.
Trump responded positively, assuring that supplies would be maintained. "I would make sure that you get it," he stated. The President also mentioned plans to expedite permits for LNG projects. This comes after the U.S. became the world's leading exporter of the super-chilled form of natural gas in 2023.
Trump expressed his belief that an increase in LNG projects could lead to a decrease in prices. "I think the more that you do, the lower the price is going to go, and what I'd like to see is rapid approvals," he said. This suggests a commitment to maintaining a steady supply of LNG to Europe while managing domestic prices.
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